RBA’s Bullock: Interest rates may have to go a little higher

Michele Bullock, Deputy Governor at the Reserve Bank of Australia (RBA) and Christopher Kent, Assistant Governor (Financial Markets) are appearing before the Australian parliament’s Senate Economics Legislation Committee (Budget Estimates).

Bullock said while responding to the Q&A that “interest rates may have to go a little higher.”

Additional quotes

Getting nearer to the point where we might be able to pause and take a look.

Hoping demand in the economy is slowing but need to see more evidence.

Market reaction

Amid a cautious market mood, AUDUSD is extending losses toward 0.6400 while digesting the dovish remarks from RBA’s Bullock. The pair is down 0.21% on the day, as of writing.